It was announced last week that drought-hit farmers, small businesses and rural towns are set for an immediate cash injection. The Media Release about the funding says means that more than $1 billion will be committed from the Federal Election onwards, as well as more than $1 billion in new interest free loans. The release also says that this increase in drought support has an eye squarely on those communities feeling the strain as work dries up and spending in local stores slows down.
In summary, it seems as if the new support for farms and small businesses includes the following:
· Making new and existing drought loans for farmers interest free for two years so they purchase fodder, pay for freight and pay their farm hands. Years three to five will be interest only payment and years six to 10 will be interest and principal. Current scheme is the first five years are interest only payments, and interest and principal payments for the balance of the loan term
· A new program for small businesses dependent on agriculture with loans worth up to $500,000 that can be used to pay staff, buy equipment and refinance. It follows the same new payment scheme as the Drought Loans for farmers
· $5 million from the Community Child Care Fund will help assist centres that are experiencing decreased demand and financial pressure due to families from drought-affected areas being unable to pay for child care
The support also includes programs supporting jobs and investment in local communities such as:
· Redirecting $200 million into a Building Better Regions Fund drought round to support new projects that deliver social and economic benefits to drought-affected communities
The Chamber is looking forward to more detailed information becoming available shortly.
Plans are also well underway for 2019 Dowling Street Christmas Street Party which will take place on Wednesday 4th December, 2019 from 5pm.
Built on community engagement,this event is designed to encourage businesses to offer extended trading hours, encourage local spending and bring Christmas Spirit to Dowling Street. The event has been a fabulous success over the last two years with businesses, community associations, schools, churches, volunteers and individuals all coming together and offering a positive shared family experience
The year’s event will include a Christmas street parade, markets from our local traders and community organisations, entertainment including singers, face painting, a jumping castle which much more.
If you would like any further information please call Marion Stuart on 0428 921 899 or me on 0432 128 143
